According to the U.S. Bureau of Labor Statistics, prices for services less rent of shelter were 160.19% higher in 2018 versus 1988.
Between 1988 and 2018: Services less rent of shelter experienced an average inflation rate of 3.24% per year. This rate of change indicates significant inflation. In other words, services less rent of shelter costing $20 in the year 1988 would cost $52.04 in 2018 for an equivalent purchase. Compared to the overall inflation rate of 2.51% during this same period, inflation for services less rent of shelter was similar.
In the year 1988: Pricing changed by 4.28%, above the average yearly change for services less rent of shelter during the 1988-2018 time period. Compared to inflation for all items in 1988 (4.08%), price inflation for services less rent of shelter was higher.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Services less rent of shelter: